The Journal. Love Trump? Now You Can Buy His Meme Coin.
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Jan 23, 2025 Vicky Ge Huang, a WSJ reporter specializing in cryptocurrency, breaks down President Trump's bold entry into the crypto world with his new meme coin. She discusses the extravagant Crypto Ball that showcased Trump’s tight-knit relationship with the crypto community. Huang dives into the disruptive implications of meme coins, tracing their roots from Dogecoin, and explores the skepticism surrounding Trump's launch amidst controversies. The conversation highlights the speculative nature of these digital currencies and their intersection with politics.
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Trump's Meme Coin Launch
- Trump launched a meme coin based on his image and the words "fight, fight, fight."
- This coin, launched on Truth Social, quickly soared in value, reaching a $15 billion market cap.
Ease of Meme Coin Creation
- Meme coins are extremely easy to create using online platforms.
- This ease of creation contributes to their prevalence and association with scams like rug pulls.
Melania's Coin and Trump Coin Crash
- Melania Trump launched her own meme coin shortly after her husband.
- This led to a 50% crash in the Trump coin as traders sold it to buy Melania's.